Money needed quickly - whats best way?

jazzys

Hi, I need a short term loan and wondered if anyone has any advice.

I need it for about four weeks only. I am cashing in an endowment policy which will give me 9 grand in four weeks time, but I want to borrow 5 grand until it comes through. I have asked the bank for a bigger overdraft but they won't do it.

I am currently unemployed as I am moving abroad very shortly.
I have a credit card but don't want to buy EVERYTHING on that. Is there anyway of getting a short term loan or a cash advance on the CC that will give me 5K for 4 weeks. I intend paying off the 5K when I get the endowment money.

Also posted on the loans board

Thanks
Jazzys

inmypocketnottheirs

Cash advance on the credit card is going to cost you money.

Much better to put purchases on it, that way you also have the purchase protection insurance provided by the card.

HTH

YorkshireBoy

jazzys wrote: »

I have a credit card but don't want to buy EVERYTHING on that.

Why not? It'll be the cheapest way.

Since most cards offer around 56 days interest free on purchases, your best plan would be to move your statement date back 3 weeks (to be on the safe side) and use your card - surely?

Then, when you get your endowment cash, simply settle your credit card. Result is £5K of spending power at 0% interest.

inmypocketnottheirs

YorkshireBoy wrote: »

Why not? It'll be the cheapest way.

Since most cards offer around 56 days interest free on purchases, your best plan would be to move your statement date back 3 weeks (to be on the safe side) and use your card - surely?

Then, when you get your endowment cash, simply settle your credit card. Result is £5K of spending power at 0% interest.

Absolutely correct.

[Deleted User]

Take out ten provident loans for 500quid each.